#1CANTEX TSXV:CD HIGH-GRADE SILVER-LEAD-ZINC IN THE YUKON, CANADA December 2019 1#2DEFINING A WORLD-CLASS AG/PB/ZN PROJECT IN THE YUKON High-grade Silver/Lead/Zinc Discovery in the Yukon ■ 100% ownership of North Rackla - a large land position with room for exploration growth Expanded exploration budget of C$15MM in 2019 focused on high-grade delineation: - Drill testing over 1km of strike length Focus is to test for mineralization similar to what was intersected in 2018 - potential for a significant deposit ■ Additional upside potential with a total of 4km of strike length, as well as to depth ■ Experienced management team - (CEO has +25 years of experience in the mineral exploration business, and has worked alongside Mr. Fipke on the discovery of Ekati) ■ Favourable ownership structure – Led by Dr. Charles Fipke (founder of the Ekati Diamond mine) Dawson ALASKA Keno Hill Mayo Stewart Crossing. YUKON TERRITORIES CANADA SA Cantex Properties YUKON TERRITORIES Carmacks. Faro Haines Junction Whitehorse O Teslin Watson Lake 50 CANTEX TSXV: CD Km 2#3DIRECTORS & MANAGEMENT Dr. Charles Fipke Chairman With over 40 years of experience in the minerals exploration business Mr. Fipke is credited with the discovery the Ekati Diamond Mine, in the Northwest Territories, Canada's first diamond mine after founding Dia-Met Minerals Ltd. later sold to BHP Billiton Kathrine MacDonald BSc., BComm Director Ms. MacDonald is a graduate of the University of British Columbia and has over 30 years experience in the Finance Industry including Investment Banking and Management, Finance, and Corporate Relations for public mining companies. Chad Ulansky B.Sc., PGeo. President & Chief Executive Officer Mr. Ulansky is a trained geologist by background with over 25 years experience in the minerals exploration business and focus on diamond bearing deposits. He was involved in the Ekati Diamond Mine discovery by Dia-Met Minerals Ltd. and is currently CEO of TSXV listed Metalex Ventures Ltd as well as a director of Dunnedin Ventures Inc and Solstice Gold Corp. Jennifer Irons CPA, CA Chief Financial Officer Ms. Irons graduated from the University of Alberta with a Bachelor of Commerce degree and began her accounting career with a national firm in 2003. Prior to joining Cantex in 2013, Ms. Irons held the position of Manager with a Kelowna based accounting firm where she served both individual and corporate clients. Ms Irons is a director of Northern Uranium Corp and is the CFO of Metalex Ventures. Vern Frolick LLB Director Mr. Frolick is a graduate of the Windsor School of Law and was called to the Ontario Bar in 1976 and the BC Bar in 1982. Currently he is a Crown Prosecutor in Penticton. He is also a director of Northern Uranium Corp. CANTEX TSXV: CD 3#4LOCATION - LAND POSITION - NEIGHBOURS ■ North Rackla claims are 14,077 hectares ■ Infrastructure is being built - All-season road being permitted to Tiger Gold Deposit ■ North Rackla - Access is via air strip and internal road network which has been constructed to support operations ■ Na-Cho Nyak Dun First Nation - Are pro-mining and pro-development group with +300 members ■ Current business relationship with First Nation includes: JV with fixed wing and helicopter operators, sat comms, fuel supply, staffing through First Nation labour supplier CANTEX PROPERTIES YUKON TERRITORIES CANTEX TSXV: CD Whitehorse NORTH RACKLA MOUNT GOOD Victoria Gold 2.66Moz Au at 0.67g/t $369M Capex OCELOT✰ TIGER GOLD DEPOSIT DUBLIN GULCH DEPOSIT Mayo EAGLE DEPOSIT ATAC KENO HILL Alexco 1Mt of 843 g/t Ag, 3.3% Pb., 4.6% Zn TREND EXAMPLE RUSTY MOUNTAIN 486koz Au at 2.66g/t $109M Capex 0 W N Rackla Camp 4 50 Km#5TIMELINE TO DISCOVERY 4 2016 Late season drill program on Extension Zone intersects oxidized mineralization near surface 3 2016 2 2015 1 2014 Prospecting of anomalous soil-talus samples led to the Discovery Zone Expanded prospecting and rock sampling program extend mineralization by ~1km along strike Trenching of Discovery Zone extends mineralization 2km towards the "Extension Zone" 6.5 5 2018 6.0 Drill program tests 5.5 fresh mineralization at depth- 5.0 mineralized zones 4.5 average >20% Lead-Zinc with 4.0 additional 100g/t 3.5 Silver Det Apr Jul Oct Apr Jul Oct Apr Jul Oct Apr Jul Oct Apr Jul 14 2015 2016 2017 2018 2019 CANTEX TSXV: CD 3.0 2.5 2.0 1.5 1.0 0.5 LO 5#6NORTH RACKLA MASSIVE SULPHIDE PROJECT . The Massive Sulphide Project, "Main Zone", stretches over 3.1km in strike length as defined by drilling and geophysics Hosts elevated Ag-Pb-Zn values Mineralization is hosted in Proterozoic aged rocks and contains elevated manganese values - similar to the Broken Hill deposit in Australia, the worlds largest Ag-Pb-Zn deposit Scale of project is impressive (+4km of strike length) – Similar realm to Broken - Hill (which is upwards of 7-8km) Relatively coherent trend supported by geophysics 2019 Focus Area Cantex Claims A North Rackla Camp 2019 Targets Yukon Bedrock Geology MIDDLE TO UPPER PROTEROZOIC UPP1: PINGUICULA: A uPH2: HART RIVER: resistant dark weathering diorite and gabbro sills and dykes LOWER PROTEROZOIC IPG: GILLESPIE LAKE: dolostone and silty dolostone, locally stromatolitic IPQ: QUARTET: black weathering shale, grey weathering siltstone and fine grained sandstone CANTEX PROPERTIES YUKON TERRITORIES Northern Area MASSIVE SULPHIDE 106C12. 106C05 PROJECT MAIN ZONE >3.1km CANTEX TSXV: CD W N Discovery Target Extension Target Whitehorse 0 2.5 5 km 6#7PROTEROZOIC SEDIMENTARY AGED ROCKS • Paleographic reconstructions put Eastern Australia (Broken Hill) adjacent to modern day Yukon at the time of deposition of both deposits. These two deposits likely had a very similar genesis Grades vary from deposit to deposit, as does the specific geology Drilling at the Massive Sulphide Project to date, plots among the richest grades that are encountered in sedex deposits globally. Dariba-Rampura 1800 Zawar 1700 W E India 00 S I Kalahari Rosh Pinah 1100 Aggeneys 1650 Congo East Antarctica Sullivan >1400 Laurentia Balmat-Edwards 1300 West Africa Amazonia CANTEX TSXV: CD Australia HYC 1690 Broken Hill 1690 North Rackla Project Mt. ISA 1670 Baltica Siberia Grenvillian Belt Pre-Grenvillian Cratons Current True Magnetic North BROKEN HILL MINE 00 NORTH RACKLA Source: Hoffman, P. F. (1991). Did the Breakout of Laurentia Turn Gondwanaland Inside- Out? Science, 252(5011), 1409–1412. 7#8MASSIVE SULPHIDE PROJECT COMPARED TO HIGH-GRADE DEPOSITS GLOBALLY Pb + Zn (wt.%) LO 5 25 Drilling to expand tonnage 20 MASSIVE SULPHIDE 15 1 CANADIAN DEPOSITS WORLD DEPOSITS CANTEX TSXV: CD 10 Red Dog 100 GEOLOGICAL RESOURCES Mt BROKEN HILL GIANT SUPER GIANT 1000 8#97155000 MASSIVE SULPHIDE PROJECT SIMPLIFIED GEOLOGY OF MAIN ZONE 2018 Drilling results illustrated: High-grade Silver-Lead-Zinc averaging over 20% (Pb-Zn) and 100g/t Ag Significant true widths of over 9m ■ Remains open below 200m vertical depth 2019 drilling is focused at the Extension Target: ■ 2019 goal was to extend mineralization along strike from the heavy massive sulphides intersected in 2018 CANTEX TSXV: CD 7152500 7153000 7153500 7154000 7154500 562500 Legend Cantex Claims Boundary Waterbody Watercourse Drill Pads Geologic Legend Contacts Defined Contacts Projected Zone Defined Zone Projected Faults Dike Swarm Lithology Alteration Zone Inferred. Dolomitic Argilite Glacial Till Cover Layered Argilitic Dolomite Pyritic Siltstone 0 0.125 0.25 0.5 Km 562500 1:15,000 563000 EXTENSION TARGET 563000 563500 564000 564500 565000 6 3 075 MZ5X DISCOVERY TARGET 1. MZ10 M29 MZ8 MZ7 B MZ6 M74 MZ3 MZ2 AB' 563500 564000 564500 565000 9 2018 PADS 7152500 7153000 H 7153500 7154000 7154500 7155000#104.05 m: Ag 21.1 g/t; Pb 2.12 %; Zn 1.79 % 5.7 m: Ag 136.9 g/t; Pb 2.8%; Zn 0.83 % 4.4 m: Ag 48.9 g/t; Pb 5.35 %; Zn 5.99 % 7m: Ag 22 g/t; Pb 1.23 %, Zn 8.27% 2018 DRILLING: MAIN ZONE - EXTENSION TARGET (PAD 6) Cross Section A-A' & Selected Drilling Results ■ 2018 drilling returned elevated Silver and Zinc grades over substantial widths True Length Au Pb Zn Hole Width (m) (m) (g/t) (%) (%) 3៖ Cu Mn (%) (%) YKDD18-012 13.00 9.19 150.6 8.09 18.04 0.05 3.67 Including 5.00 3.54 277.8 14.01 35.36 0.04 3.07 13m: Ag 150.6 g/t, Pb 8.09%, Zn 18.04% YKDD18-013 12.37 1.20 158.0 6.04 23.12 0.00 3.06 12.37m: Ag 158.04 g/t, Pb 6.035%, Zn 23.12% Including 5.65 3.24 207.5 7.43 40.24 0.06 1.76 And 0.80 0.46 322.0 15.60 47.38 0.02 0.28 YKDD18-014 22.00 0.85 22m: Ag 122.59 g/t; 122.6 7.33 10.97 0.22 2.00 Pb 7.33 %; Zn 10.97% YKDD18-016 8.63 2.33 142.1 11.44 18.36 0.02 4.52 0 12.5 25 50 Including 2.00 1.03 272.0 22.94 31.29 0.14 1.17 Meters *See press releases dated October 29, and November 20, 2018. CANTEX TSXV: CD 1:1,500 YKDD16-005 YKDD18-012 YKDD18-013 YKDD18-014 YKDD16-004 Legend Collar Zone DDH Trace Drilled DDH Trace Proposed Fault Surface Overburden Mafic Dyke Alteration Zone Mineralized Zone Massive Dolomite 10#112019 DRILLING: MAIN ZONE - EXTENSION TARGET (PAD 5) - Cross Section B-B' & Selected Drilling Results ■ Results illustrate scale along with elevated grades ■ Mineralization continues to be intersected over significant widths with extremely high grades. ■ 3.1km of strike length leaves room to build tonnage 1400 m Location A: 563127, 7153511 B: 563011, 7153696 PAD 5: YKDD19-039, 040, 042, 043 & 046 Section Azimuth 150 - View Looking WSW YKDD19-039 EOH 121 m Scale: 1:1,500 Vertical exaggeration: 1x Om 50m YKDD19-040 EOH 152 m True Length Au Pb Zn Cu Mn Hole Width (m) (g/t) (%) (%) (%) (%) (m) YKDD19-042 EOH = 182 m YKDD19-040 26.5 16.32 153.57 3.10 2.44 0.42 4.09 YKDD19-042 28.3 14.15 113.96 9.34 12.37 0.09 3.05 Legend And 4.0 2.00 150.50 7.39 36.96 0.05 2.53 Mineralized Zone < 5% And 3.0 1.50 213.33 10.73 41.43 0.10 1.41 Mineralized Zone >/= 5% Mineralized Zone undefined % YKDD19-043 YKDD19-043 22.6 8.47 48.20 8.20 4.90 0.04 3.20 EOH = 254 m Working Model Mineralized Zone Including 3.0 1.12 55.33 21.91 1.48 0.01 4.07 Ag (g/t) And 1.1 0.41 235.40 49.30 3.72 0.11 1.99 0 7.5 15 22.5 30 + And 3.1 1.16 97.47 6.87 21.23 0.05 3.02 *See press releases dated November 5, 2019 CANTEX TSXV: CD Pb+Zn (%) ° 1.8 3.5 5.3 1200 m x: 563127 m y: 7153511 m Collar: 563032 E/7153663 N/ 1524 Elevation YKDD19-046 EOH = 287 m Assays outstanding for YKDD19-046 B 1400 m 1200 m x: 563043 m y: 7153645 m 11#12VIEWS OF THE MASSIVE SULPHIDE PROJECT – MAIN ZONE IMAGE 1 Looking North, across the Discovery Target CANTEX TSXV: CD IMAGE 2 Looking NNE along strike of the mineralized Main Zone 12#13MASSIVE SULPHIDE PROJECT AIRBORNE MAGNECTIC SURVEY 2019 GEOPHYSICAL PROGRAM EXPANDED THE PROSPECTIVE STRIKE LENGTH TO OVER 4KM CANTEX 7152500 7153000 7153500 7154000 7154500 7155000 Drill Pads Zone Boundary Dike Swarm Boundary Waterway Image 1 Discovery Target 3.1km of strike length along the "Main Zone" Extension Target ODODOO Image 2 +1km of strike length South Target 10000 561500 562000 562500 563000 0 W 563500 0.5 564000 1 km 1.550 1.450 1.375 1.275 1.200 1.125 1.025 0.950 0.875 0.775 0.700 0.625 0.525 0.450 0.375 0.275 0.200 0.125 0.025 -0.050 -0.150 -0.225 -0.300 -0.400 -0.475 -0.550 -0.650 -0.725 -0.800 -0.900 -0.975 -1.050 -1.150 -1.225 -1.300 -1,400 -1.475 -1.575 Tilt Derivative Angle Radians 564500 13#14GEOPHYSICAL INTERPRETATION MASSIVE SULPHIDE ZONE - Extended Up to 3.1 km in strike length Linear anomaly correlates well with the mapped surface trace of the Massive Sulphide Zone and intercepts of the zone in drill core ■ Based on geophysical interpretation, the Massive Sukphide Zone trend has expanded by one kilometre, to 3.1 kilometres, of total strike length NEW DISCOVERY "SOUTH GOSSAN TARGET" - Additional +1.0 km of strike length ■ This steeply dipping gossan has been traced for 1,200 metres along surface and down 320 metres of elevation, with exposed apparent widths at surface up to 20 metres. ■ The exposure of the zone correlates well with a linear feature that can be traced for over 1 km of strike length on the recently interpreted magnetic survey. ■ The geophysical character of this zone is comparable to that of the Main Zone. ■This is now a priority drill target. CANTEX TSXV: CD 14#15SHARE PRICE PERFORMANCE ✓ Tier 1 jurisdiction of Yukon, Canada Supportive shareholder base: anchored by Charles Fipke * Scale and grade: drilling to date has illustrated ability to find significant grade and widths Room to grow: exploration upside along strike and at depth - as well as additional zones CANTEX TSXV: CD 15#16SHARE STRUCTURE & WORKING CAPITAL CANTEX TSXV: CD TSXV: CD Issued and outstanding 48,014,086 Warrants outstanding (average strike price $0.84) 11,757,334 Options outstanding (average strike price $2.23) 2,157,000 Recent share price (November 28, 2019) Market capitalization Cash position $1.00 $48M $10M (December 1, 2019) 16#17(100%) Jan-19 0% 100% 200% Feb-19 CANTEX 300% 400% Mar-19 500% TSXV: CD RELATIVE SHARE PRICE PERFORMANCE 700% Cantex 5% -Foran (19%) Callinex 24% Osisko Metals (20%) Solitario Zinc 13% Fireweed (33%) -Tinka (58%) -ZincX (46%) 600% Apr-19 May-19 Jun-19 Oct-19 Nov-19 17#18APPENDIX CANTEX TSXV: CD 18#19SEDEX DEPOSIT EXPLAINED Sedex stands for "sedimentary exhalative" which is a description of how this deposit type forms Sedex ores are formed when hot, mineral-rich fluids associated with a large-scale hydrothermal system are expelled from zones of structural weakness in the seafloor, where they come in contact with seawater that causes the minerals to precipitate and slowly settle out onto the ocean floor These hydrothermal systems persist for millions upon millions of years, eventually making a sheet/lobe-like deposit (or deposits) Over the next billion-plus years, this accumulation of metallic minerals is subsequently buried, pressured, and preserved as a layer within a package of sedimentary rocks In the Yukon, this package was eventually lightly cooked and lifted by tectonics onto what is now known as the Yukon Territory. Laterally continuous, predictable, and stratabound would all be suitable adjectives to describe sedex deposits. CANTEX TSXV: CD 19#20MASSIVE SULPHIDE ZONE REGIONAL GEOPHYSICS OUTLINE Regional geophysics program included airborne magnetic survey, ■ Ground IP, gravity, and EM ■ Airborne EM survey & Airborne Mag Survery 715-4000 NORTH RACKLA CANTEX TSXV: CD Northern Area seeee North Rackla Camp Massive Sulphide Discovery Outcrop Extension 2000 • * ok 13 .. Legend Proposed Geophysics Grid Proposed Regional Geophysics Priority Area Geophysics Cantex Claim Boundary Soil Sample Locations Zn (ppm) High 563000 56-4000 Low Proposed Geophysics Regional Massive Sulphide Zone N W 1 Km 20 20#21REGIONAL WORK Soil-talus sampling ■ A total of over 25,000 soil samples have been taken within the North Rackla Project to-date ☐ 4,935 samples were taken this year ■ New Discovery "South Gossan Target" - Prospecting and sampling resulted in the discovery of a new exposure of outcropping massive gossan (weathered sulphides) CANTEX TSXV: CD W E Km Legend 2019 Drill Pads • 2019 Soil Talus Sampling Existing Soil Talus Sampling Watercourse Waterbody Cantex Claims Boundary 21 24#22EXTENSION ZONE - HIGHLIGHTS OF 2019 DRILLING Selected Results 62 holes (over 14,000 metres) have been completed to-date on the Massive Sulphide Project. Drilling in 2019 was completed from 14 pads along a strike length of 760 metres (or approximately 30% of the strike length) within the Main Zone. Length Hole Pad (m) True Width (m) Silver Lead Zinc Copper Manganese (g/t) (%) (%) (%) (%) YKDD19-040 5 26.5 16.32 153.57 3.10 2.44 0.42 4.09 YKDD19-042 5 28.3 14.15 113.96 9.34 12.37 0.09 3.05 Including 1.0 0.50 134.00 56.59 0.40 0.03 4.32 And 4.0 2.00 150.50 7.39 36.96 0.05 2.53 And 3.0 1.50 213.33 10.73 41.43 0.10 1.41 YKDD19-043 5 22.6 8.47 48.20 8.20 4.90 0.04 3.20 Including 3.0 1.12 55.33 21.91 1.48 0.01 4.07 And 1.1 0.41 235.40 49.30 3.72 0.11 1.99 And 3.1 1.16 97.47 6.87 21.23 0.05 3.02 *See press release dated September 5, 2019 CANTEX TSXV: CD RESULTS FOR 2,648 METRES WERE RELEASED WITH THE DEEPEST SULPHIDE INTERSECTION TO DATE AT 335 VERTICAL METRES BELOW SURFACE 22 22#23CANTGX INVESTOR RELATIONS [email protected] 250 860 8582 cantex.ca TSXV: CD